Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking. The company accepts checking accounts, money market deposits, negotiable order of withdrawals, savings deposits, and time deposits. Its loan products include credit card loans; auto and retail banking loans; and commercial and multifamily real estate, and commercial and industrial loans. The company also offers credit and debit card products; online direct banking services; and provides advisory, capital markets, treasury management, and depository services. It serves consumers, small businesses, and commercial clients through digital channels, branches, cafés, and other distribution channels located in New York, Louisiana, Texas, Maryland, Virginia, New Jersey, and California. The company was founded in 1988 and is headquartered in McLean, Virginia.

Capital One Financial Corporation

Bank Profits Rise Amid Credit Card Uncertainty

Despite declining interest rates, Capital One Financial Corporation’s COF net interest income (NII) increased 54% year over year to $12.47 billion in fourth-quarter 2025. The rise was primarily driven by loan and portfolio growth, especially in higher-yield credit card loans, deposit cost control and strategic balance sheet expansion from the Discover Financial acquisition (completed in May 2025).
COF’s credit card business continues to generate the bulk of NII, which benefited from strong ongoing consumer spending and elevated interest rates on card receivables. Period-end loans held for investment in the credit card segment increased 72% year over year in the fourth quarter, lifting interest-earning assets, the primary base for NII.
The integration of Discover Financial’s loan portfolio expanded the loan base significantly, adding to the volume of interest-earning assets. Also, average deposits and total deposits grew modestly, and interest-bearing deposit costs declined, which boosted NII by reducing funding costs.
Thus, an increase in loan balances (particularly card loans), along with overall higher interest rates on loans relative to deposit costs, sustained robust year-over-year growth in NII despite modest net interest margin (NIM) compression.
Although more rate cuts are expected during the year, Capital One’s NII growth will likely continue, given robust demand for card loans, an improving funding mix, stabilising funding costs and the company’s efforts to scale business.
How Have COF’s Peers Been Performing in Terms of NII
Capital One’s peers like Ally Financial ALLY and OneMain Holdings, Inc. OMF have been trying to deal with the evolving interest rate landscape as well.
In fourth-quarter 2025, Ally Financial’s net financing revenues increased 5.9% year over year to $1.60 billion. This reflected momentum in the company’s core franchises, disciplined deposit pricing and ongoing balance sheet optimization.
Notably, Ally Financial has been restructuring its operations to create a simplified and streamlined organizational structure to achieve higher efficiency.
OneMain is scheduled to report fourth-quarter results on Feb. 5. Over the last five years (ended 2024), the company’s NII witnessed a compound annual growth rate (CAGR) of 3.8%, with the uptrend continuing in the first nine months of 2025. OneMain’s loan mix of Front Book and Back Book aims for revenue sustainability while maintaining upside potential in a rapidly changing macroeconomic environment.
Capital One’s Price Performance, Valuation and Estimates
COF shares have risen 1.5% in the past six months, underperforming the industry’s growth of 3.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, Capital One currently trades at a 12-month forward price-to-earnings (P/E) of 10.62X, above the industry average of 9.51X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Capital One’s 2026 and 2027 earnings indicates year-over-year growth of 1.3% and 21.6%, respectively. In the past 30 days, earnings estimates for 2026 have been revised lower to $19.86, while estimates for 2027 have been revised higher to $24.16.
Image Source: Zacks Investment Research
Currently, COF carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

COF's NII Increases in 4Q25 Despite Rate Cuts: What Drove the Rise?

"And what can we do to get better shots?"
Your fulltime income strategist and part-time basketball coach asked his team of fifth and sixth graders for their ideas. Or, at least, tried to.
Then a ball bounced. After coach specifically said hold balls for a second time. This third infraction ended the conversation.
"That's it--on the line. Start running."
When coach says run, the players don't really have a choice. Get moving in practice or lose playing time in the games they all love.
Likewise, when the government tells an industry that there is a cap on their profits, well, they'd better get moving too.
"Fat cat" financial lender stocks have tanked since the Oval Office asked for a 10% national cap on credit card interest rate. This went from a campaign slogan to a formal request to Congress. Ugly reaction from some stocks.
Capital One (COF), for one, shed 9.1% last week. The 10% cap created a hard ceiling on the company's net interest margin (NIM), installing a much lower ceiling on its business model. What's in your wallet? Less NIM for you!
The industry CEOs know it's ugly. Everyone's favorite financial villain, big boss at JPMorgan (JPM) Jamie Dimon, called the proposal an "economic disaster." (Jamie always talks his book.) Bank of America (BAC) meanwhile is scrambling to design a "capped" card. Which will voluntarily put a lid on its profits.
Google searches for "credit card limit" are spiking amid the cap chatter. It's ugly out there in the financial sector. But this has presented a "baby with the bathwater" buying opportunity. Indiscriminate selling gives us opportunity.
Visa (V), for example, is not a bank. It's a financial plumbing tollbooth. Yet, it's off 8% over the last month! Silly investors. They miss the distinction:
The Banks (like Capital One) risk their own capital to lend money. They need high interest rates to maintain their fat profit margins.
A Network (Visa) takes a small fee on every swipe.
Visa doesn't care if the interest rate is 10% or 30%. To be blunt, they don't care if the user pays the bill or defaults! They only care that the card is swiped. Visa processed $15 trillion last year--the caps won't touch that. It's a misunderstood growth model that features "Stablecoins" as the next big growth driver.
The real pivot, though, is from "capped" banks to "uncapped" energy. The regulatory hammer is flexing on financials. But Washington is doing just the opposite with energy pipelines. In fact, the administration is peeling back red tape and rolling out the red carpet.
Pipelines are becoming the "boring" cash machines that banks used to be. They charge fixed fees to move natural gas and oil. And the sector is gushing so much free cash flow that they are raising payouts...and unlike the banks, the pipelines earn without having to fight Washington. Energy production is a priority for this administration, and these companies directly benefit with less regulation.
My preferred way to play this trend, which will run through at least 2028, is the Alerian MLP ETF (AMLP). AMLP owns a basket of midstream MLPs (master limited partnerships), the pipeline and infrastructure companies that mint fee-based cash flow. These businesses don't need $100 or even $80 oil. They merely require traffic.
And traffic is what the US energy system does in 2026. We produce. We refine. We export. Oil is cheap but the pipes are still filling up. Whether prices are high or low, the tolls are getting paid.
And so are we, collecting an 8.1% yield from AMLP!
The fund provides us with a paperwork advantage, too. It is structured as a C-corporation fund, so shareholders receive a 1099. No K-1s, the tax headache many income investors endure when they buy individual MLPs.
AMLP also hikes its payout prodigiously:
AMLP Raises Its Divvie Regularly
What a contrast with banks like Capital One! They are fighting for their fat-cat lives against a 10% cap. Meanwhile, energy pipelines quietly toll the cash flow, free of regulatory scrutiny, paying us 8.1% to hold them.
This is how we live off $500,000...practically forever. By buying elite 8.1% dividends that are favored by the current administration.
Of course, there's no need to dump a full $500K portfolio into AMLP alone. Diversify! Let's start with these 3 incredible monthly payers dishing out dividends up to 14.9%.
Also see:
Warren Buffett Dividend Stocks
Dividend Growth Stocks: 25 Aristocrats
Future Dividend Aristocrats: Close Contenders
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

From Bank Bloodbath to Pipeline Boom: An 8.1% Yield Escape Plan

Capital One Financial Corporation’s COF credit card business stands out as a core earnings engine, underpinned by its scale, data-driven underwriting and strong brand presence in the U.S. consumer finance market. Credit cards have been central to COF’s business model and remain its largest revenue source. Historically, the credit card segment accounted for more than 70% of COF’s revenues, driven by net interest income (NII) from revolving balances and interchange/fee income on card spending.
While in May 2024, the company ended its card partnership with Walmart, its 2017 acquisition of Cabela's Incorporated’s credit card operations bodes well. Moreover, post the Discover Financial acquisition (closed May 2025), Capital One became one of the largest U.S. credit card issuers by balances, significantly boosting scale and revenues.
In 2025, the credit card segment’s net revenues witnessed a year-over-year rise of 40.5%. Loans held for investment within the segment increased 72% year over year, while purchase volumes improved 27%. Despite an intensely competitive environment, strong growth opportunities in card loans and purchase volumes are expected to continue, thus supporting the segment’s performance.
While the company’s price performance suffered recently because of macro concerns like the proposed credit card rate caps, its shares have gained 9% in the past year, with the majority of the rally coming following the completion of the Discover deal. The industry to which the stock belongs has gained 30.5%, whereas the S&P 500 Index has rallied 17.6%. Looking at COF’s peers, Ally Financial ALLY and OneMain Holdings, Inc. OMF, it appears that while the COF stock has outperformed Ally Financial, it has underperformed OneMain in a year.
1-Year Price Performance
Image Source: Zacks Investment Research
While Capital One looks well-positioned for long-term growth, supported by its robust credit card business, it is better to have a look at the company’s fundamentals before making any investment decision.
Capital One’s Positives to Note
Inorganic Expansion Efforts: Capital One has been pursuing opportunistic acquisitions over the years, which have been driving its revenues. A few days ago, COF announced a $5.15-billion deal to acquire fintech firm Brex, expanding into corporate cards and business payments beyond traditional consumer credit. In May 2025, it acquired Discover Financial in an all-stock transaction valued at $35.3 billion, reshaping the landscape of the credit card industry, creating a behemoth and unlocking substantial value for shareholders (the deal is expected to be more than 15% accretive to adjusted EPS by 2027).
In 2023, COF acquired Velocity Black, bolstering the delivery of exceptional consumer experiences attributable to its innovative technology. Other notable acquisitions include ING Direct USA, HSBC's U.S. Credit Card Portfolio and TripleTree. These have been instrumental in transforming the company from a monoline credit card issuer into a diversified financial services firm with a significant presence in retail banking, commercial lending and digital banking platforms.
Revenue Strength: Capital One’s NII has witnessed a compound annual growth rate (CAGR) of 13.4% over the five years ended 2025. Also, its net interest margin (NIM) expanded to 7.84% in 2025 from 6.88% in 2024 and 6.63% in 2023.
Moreover, though the company’s total revenues declined marginally in 2020, the metric witnessed a five-year (2020-2025) CAGR of 13.4%.
Revenue Trend
Image Source: Zacks Investment Research
Thus, despite the three interest-rate cuts in 2025, along with expectations of more in 2026, Capital One’s NII and NIM are expected to keep benefiting from robust demand for card loans and Capital One’s efforts to scale businesses.
The Zacks Consensus Estimate for COF’s 2026 and 2027 revenues is pegged at $62.77 billion and $65.44 billion, respectively, which indicate year-over-year growth rates of 17.5% and 4.3%.
Sales Estimates
Image Source: Zacks Investment Research
Solid Balance Sheet: As of Dec. 31, 2025, Capital One had total debt (securitized debt obligations plus other debt) of $51 billion. The total cash and cash equivalents balance was $57.4 billion. Additionally, the company holds investment-grade long-term senior debt ratings of Baa1, BBB and A- from Moody’s Investor Service, Standard and Poor’s, and Fitch Ratings, respectively. This renders the company favorable access to the debt market.
Capital One’s focus on maintaining a strong capital and balance sheet position supports its capital distribution activities. After slashing the quarterly dividend by 75% in 2020 based on the Federal Reserve’s requirements, COF restored it to 40 cents per share in the first quarter of 2021. In July 2021, the company hiked its dividend 50% to 60 cents per share and also announced a special dividend of 60 cents per share.
In November 2025, the company raised its quarterly dividend 33.3% to 80 cents per share. Also, Capital One has a share repurchase plan in place. In October 2025, its board of directors authorized the repurchase of up to $16 billion of shares, which began on Oct. 21. Given its earnings strength and solid liquidity position, the company’s enhanced capital distribution plans look sustainable.
Analyzing Analyst Sentiments for COF
Analysts have a mixed stance regarding COF’s earnings growth prospects. Over the past month, the Zacks Consensus Estimate for the company’s 2026 earnings of $20.12 has been revised lower, while the estimate for 2027 of $24.26 has been revised higher.
Estimate Revision Trend
Image Source: Zacks Investment Research
The projected figures imply year-over-year growth of 2.6% and 20.6% for 2026 and 2027, respectively.
Capital One’s Valuation Analysis
In terms of valuation, COF currently has a price-to-book ratio (P/B) of 1.22X, which is higher than the industry's 0.78X. This shows that the stock is trading at a premium.
P/B Ratio
Image Source: Zacks Investment Research
Meanwhile, its peers Ally Financial and OneMain have a P/B ratio of 0.96X and 2.25X, respectively.
How to Approach Capital One Stock Now
As one of the largest credit card issuers in the country, COF benefits from a diversified customer base that spans prime to subprime segments, allowing it to generate attractive yields while actively managing risk. Its long-standing investment in analytics and digital capabilities enables more precise credit decisioning, dynamic pricing and early identification of stress in borrower behavior, supporting resilient revenue generation across credit cycles.
However, if the 10% cap on credit card interest is implemented and enforced, Capital One’s interest income could drop significantly, since cards issued today often yield much more than 10%. Also, the company’s profit margins may shrink, potentially pressuring earnings.
In addition to this concern, steadily rising expenses and weak credit quality remain major woes. Over the last five years (2020-2025), non-interest expenses witnessed a CAGR of 15.2% due to higher marketing costs and inflationary pressures. Given the company’s investments in technology and infrastructure, as well as inorganic expansion efforts, expense levels are expected to remain elevated.
Expense Trend
Image Source: Zacks Investment Research
COF’s near-term results can be influenced by provisioning trends and macro conditions. However, the long-term outlook is supported by disciplined risk management, strong consumer spending engagement and potential margin expansion from scale and integration benefits.
Thus, given its premium valuation, investors should not rush to buy the stock now and should wait for an attractive entry point. Yet, those who already own the stock should hold on to it as the company is less likely to disappoint in the long run. COF’s credit card franchise is expected to remain a central driver of earnings growth and shareholder value creation over the medium to long term.
Currently, COF carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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OneMain Holdings, Inc. (OMF) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

COF's Card Business Fuels Long-Term Growth: Should You Buy the Stock?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Industrials ETF (Symbol: IYJ) where we have detected an approximate $200.4 million dollar inflow -- that's a 11.6% increase week over week in outstanding units (from 11,200,000 to 12,500,000). Among the largest underlying components of IYJ, in trading today Capital One Financial Corp (Symbol: COF) is down about 2%, Deere & Co. (Symbol: DE) is down about 0.2%, and Parker Hannifin Corp (Symbol: PH) is higher by about 0.6%. For a complete list of holdings, visit the IYJ Holdings page » The chart below shows the one year price performance of IYJ, versus its 200 day moving average:
Looking at the chart above, IYJ's low point in its 52 week range is $111.51 per share, with $156.80 as the 52 week high point — that compares with a last trade of $154.25. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IYJ, COF, DE, PH: Large Inflows Detected at ETF

U.S. stocks closed mixed on Friday as investors digested the mixed fourth-quarter earnings. The Dow ended in negative territory, closed lower, while both the S&P 500 and the Nasdaq Composite finished in the positive zone. However, despite the mixed session, all three major indexes posted weekly losses.
The Dow Jones Industrial Average (DJI) fell 0.6%, or 285.30 points, to close at 49,098.71. Sixteen components of the 30-stock index ended in negative territory, and 14 ended in positive territory.
The S&P 500 gained 0.03%, or 2.26 points, to end at 6,915.61. Out of 11 broad sectors of the broad-market index, seven ended in positive territory while four ended in negative territory. The Materials Select Sector SPDR (XLB), the Consumer Discretionary Select Sector SPDR (XLY), and the Consumer Staples Select Sector SPDR (XLP) rose 0.9%, 0.7%, and 0.7%, respectively, while the Financials Select Sector SPDR (XLF) receded 1.4%.
The fear gauge, the CBOE Volatility Index (VIX), increased by 2.9% to 16.09. A total of 17.34 billion shares were traded on Friday, higher than the last 20-session average of 17.07 billion.
Mixed Q4 Earnings Results
Capital One Financial Corporation (COF) reported fourth-quarter 2025 adjusted earnings of $3.86 per share, missing the Zacks Consensus Estimate of $4.12 per share. Revenues of $15.58 billion beat the Zacks Consensus Estimate by 1.38%.
Alaska Air Group, Inc. (ALK) reported fourth-quarter 2025 adjusted earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.11. Revenues came in at $3.63 billion, missing the Zacks Consensus Estimate by 0.51%.
Bank First Corporation (BFC) reported fourth-quarter 2025 adjusted earnings of $2 per share, beating the Zacks Consensus Estimate of $1.75. Revenues of $44.92 billion surpassed the Zacks Consensus Estimate by 4.23%.
Consequently, shares of Capital One Financial fell 7.6%, while Alaska Air Group and Bank First rose 4.1% and 1.1%, respectively. The three companies carry a Zacks Rank #3 (Hold) each. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Over the week, the S&P 500 declined 0.36%, the Dow fell 0.53%, and the Nasdaq slipped 0.06%.
The University of Michigan’s Surveys of Consumers showed that the consumer sentiment index rose to 56.4 in January from its final reading of 52.9 in December.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Market News for Jan 26, 2026

In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down how a 10% cap on credit card interest rates would impact Capital One Financial (NYSE: COF), and other credit card issuers like JPMorgan Chase (NYSE: JPM) and American Express (NYSE: AXP).
*Stock prices used were from the afternoon of Jan. 22, 2026. The video was published on Jan 25, 2026.
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JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Jason Hall has no position in any of the stocks mentioned. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends Capital One Financial. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Trump's 10% Rate Cap: What Does it Mean for Capital One Stock?

The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.03%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.34%. March E-mini S&P futures (ESH26) rose +0.02%, and March E-mini Nasdaq futures (NQH26) rose +0.29%.
The broader market recovered from early losses on Friday and turned higher after the Magnificent Seven technology stocks rallied. Stocks initially moved lower on Friday after Intel plunged more than -17% following a lackluster forecast from CEO Lip-Bu Tan, who warned the company was struggling with manufacturing problems.
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Stocks also found support on Friday after the University of Michigan US Jan consumer sentiment index was revised upward to a 5-month high. In addition, bond yields turned lower, supporting stocks, as inflation expectations eased after the University of Michigan's US Jan inflation expectations were revised lower.
The US Jan S&P manufacturing PMI rose +0.1 to 51.9, slightly weaker than expectations of 52.0.
The University of Michigan US Jan consumer sentiment index was revised upward by +2.4 to a 5-month high of 56.4, stronger than expectations of no change at 54.0.
The University of Michigan US Jan 1-year inflation expectations were revised lower to a 1-year low of 4.0% from the previously reported 4.2%. Also, the Jan 5-10 year inflation expectations were revised lower to 3.3% from the previously reported 3.4%.
Gold, silver, and platinum prices rose to fresh record highs on Friday, boosting mining stocks, as a weaker dollar, geopolitical risks, and renewed threats to the Fed’s independence have increased demand for precious metals as a store of value.
WTI crude oil jumped more than +2% on Friday to a 1-week high to lift energy producers after President Trump revived threats to use military force against Iran’s senior leadership for its violent crackdown on protests. Crude prices also rose after the Financial Times reported that the US is threatening to curb the supply of dollars for Iraqi oil sales as it pressures Iraq's leading politicians to form a government that excludes Iran-backed militia groups.
On Wednesday, President Trump said he would refrain from imposing tariffs on goods from European nations that oppose his effort to acquire Greenland. NATO Secretary General Rutte said a breakthrough over Greenland was secured without discussing the territory’s sovereignty with President Trump, instead focusing on the broader issue of security in the Arctic region.
Q4 earnings season begins in earnest this week and, so far, has been a positive factor for stocks, with 81% of the 40 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The Supreme Court on Tuesday did not issue a ruling on challenges to President Trump’s reciprocal tariffs. The court did not say when it will issue its next opinions, meaning it will likely be at least another month before ruling on the tariffs, as the court begins a four-week recess.
The markets are discounting the odds to 3% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets settled higher on Friday. The Euro Stoxx 50 closed up by +0.09%. China’s Shanghai Composite climbed to a 1-week high and closed up by +0.33%. Japan’s Nikkei Stock 225 closed up by +0.29%.
Interest Rates
March 10-year T-notes (ZNH6) on Friday closed up by +2.5 ticks. The 10-year T-note yield fell by -1.2 bp to 4.233%. T-notes recovered from early losses on Friday and turned higher as inflation expectations eased after the University of Michigan’s US Jan inflation expectations were revised lower. T-notes initially moved lower on Friday after WTI crude prices jumped more than +2% to a 1-week high, a negative factor for inflation expectations.
T-notes are also under pressure after President Trump last Friday expressed reluctance to name Keven Hassett as the next Fed Chair and said he would prefer to keep him as National Economic Council director. The markets saw Hassett as the most dovish candidate and the top contender for the Fed Chair nomination, so nominating someone like Kevin Warsh, a known hawk and the second-most-likely Fed Chair candidate, would be bearish for T-note prices.
European government bond yields moved higher on Friday. The 10-year German bund yield jumped to a 3-week high of 2.908% and finished up +1.9 bp to 2.906%. The 10-year UK gilt yield climbed to a 2.5-week high of 4.517% and finished up +3.8 bp to 4.512%.
The Eurozone Jan S&P manufacturing PMI rose +0.6 to 49.4, stronger than expectations of 49.2.
The UK Jan S&P manufacturing PMI rose +1.0 to 51.6, stronger than expectations of no change at 50.6 and the fastest pace of expansion in 17 months.
UK Dec retail sales ex-autos rose +0.3% m/m, stronger than expectations of no change.
Swaps are discounting a 0% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
The strength of the Magnificent Seven technology stocks on Friday was a supportive factor for the broader market. Microsoft (MSFT) closed up more than +3%, and Amazon.com (AMZN) closed up more than +2%. Also, Nvidia (NVDA) and Meta Platforms (META) closed up more than +1%. However, Alphabet (GOOGL) closed down -0.79%, Apple (AAPL) closed down -0.15%, and Tesla (TSLA) closed down -0.07%.
Mining stocks rallied on Friday after the price of gold, silver, and platinum rose to new record highs. Barrick Mining (B) closed up more than +3%. Also, Newmont Mining (NEM) and Freeport-McMoRan (FCX) closed up more than +2%. In addition, Hecla Mining (HL) and Coeur Mining (CDE) closed up more than +1%.
Packaging stocks rose on Friday after Bloomberg’s Green Markets Box Report said Packaging Corp of America plans to raise prices by $70 a ton, effective March 1. As a result, Smurfit WestRock Plc (SW) closed up more than +4%, Packaging Corp of America (PKG) closed up more than +3%, and International Paper (IP) closed up more than +2%.
Intel (INTC) closed down more than -17% to lead losers in the S&P 500 and Nasdaq 100 and lead chip stocks and AI-infrastructure companies lower after CEO Lip-Bu Tan gave a lackluster forecast and warned that the company was struggling with manufacturing problems. Also, Sandisk (SNDK) closed down more than -6%, and Marvell Technology (MRVL) closed down more than -3%. In addition, Western Digital (WDC) and NXP Semiconductors NV (NXPI) closed down more than -2%, and Analog Devices (ADI), Broadcom (AVGO), Lam Research (LRCX), Microchip Technology (MCHP), Qualcomm (QCOM), and Texas Instruments (TXN) closed down more than -1%.
Syringe makers retreated on Friday after analysts touted the launch of Novo Nordisk’s oral Wegovy medication. As a result, Stevanato Group (STVN) closed down more than -10%, West Pharmaceuticals (WST) closed down more than -4%, and Becton Dickson (BDX) closed down more than -2%
Booz Allen Hamilton Holding (BAH) closed up more than +6% after reporting Q3 adjusted EPS of $1.77, well above the consensus of $1.27, and raising its full-year adjusted EPS forecast to $5.95-$6.15 from a previous estimate of $5.45-$5.65. stronger than the consensus of $5.61.
Fortinet (FTNT) closed up more than +5% after TD Cowen upgraded the stock to buy from hold with a price target of $100.
CSX Corp (CSX) closed up more than +2% after saying it expects 2026 operating margin expansion of 200 to 300 basis points from adjusted fiscal 2025 performance.
Netflix (NFLX) closed up more than +2% after co-chief executive Peters told the Financial Times that his company is on track to win the backing of Warner Bros. Discovery shareholders for its offer for Warner Bros. film and television studios.
Capital One Financial Corp. (COF) closed down more than -7% after reporting Q4 adjusted EPS of $3.86, weaker than the consensus of $4.15.
Safehold Inc (SAFE) closed down more than -5% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $14.
Entegris Inc (ENTG) closed down more than -3% after Seaport Global Securities downgraded the stock to neutral from buy.
Sherwin-Williams Co (SHW) closed down more than -1% after Deutsche Bank downgraded the stock to hold from buy.
Earnings Reports(1/26/2026)
AGNC Investment Corp (AGNC), Alexandria Real Estate Equities (ARE), Brown & Brown Inc (BRO), Crane Co (CR), Graco Inc (GGG), Nucor Corp (NUE), Steel Dynamics Inc (STLD), W R Berkley Corp (WRB), Western Alliance Bancorp (WAL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Finish Mostly Higher Despite a Plunge in Intel

The S&P 500 Index ($SPX) (SPY) today is up +0.25%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.38%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.62%. March E-mini S&P futures (ESH26) are up +0.21%, and March E-mini Nasdaq futures (NQH26) are up +0.64%.
The broader market recovered from early losses today and turned higher after the Magnificent Seven technology stocks rallied. Stocks initially moved lower today after Intel plunged 15% following a lackluster forecast from CEO Lip-Bu Tan, who warned the company was struggling with manufacturing problems.
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Stocks also recovered today after the University of Michigan US Jan consumer sentiment index was revised upward to a 5-month high. In addition, bond yields turned lower, supporting stocks, as inflation expectations eased after the University of Michigan's US Jan inflation expectations were revised lower.
The US Jan S&P manufacturing PMI rose +0.1 to 51.9, slightly weaker than expectations of 52.0.
The University of Michigan US Jan consumer sentiment index was revised upward by +2.4 to a 5-month high of 56.4, stronger than expectations of no change at 54.0.
The University of Michigan US Jan 1-year inflation expectations were revised lower to a 1-year low of 4.0% from the previously reported 4.2%. Also, the Jan 5-10 year inflation expectations were revised lower to 3.3% from the previously reported 3.4%.
Gold, silver, and platinum prices rose to fresh record highs today, boosting mining stocks, as a weaker dollar, geopolitical risks, and renewed threats to the Fed’s independence have increased demand for precious metals as a store of value.
WTI crude oil jumped more than +2% today to a 1-week high to lift energy producers after President Trump revived threats to use military force against Iran’s senior leadership for its violent crackdown on protests. Crude prices also rose after the Financial Times reported that the US is threatening to curb the supply of dollars for Iraqi oil sales as it pressures Iraq's leading politicians to form a government that excludes Iran-backed militia groups.
On Wednesday, President Trump said he would refrain from imposing tariffs on goods from European nations that oppose his effort to acquire Greenland. NATO Secretary General Rutte said a breakthrough over Greenland was secured without discussing the territory’s sovereignty with President Trump, instead focusing on the broader issue of security in the Arctic region.
Q4 earnings season begins in earnest this week and, so far, has been a positive factor for stocks, with 81% of the 40 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The Supreme Court on Tuesday did not issue a ruling on challenges to President Trump’s reciprocal tariffs. The court did not say when it will issue its next opinions, meaning it will likely be at least another month before ruling on the tariffs, as the court begins a four-week recess.
The markets are discounting the odds to 3% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down by -0.19%. China’s Shanghai Composite climbed to a 1-week high and closed up by +0.33%. Japan’s Nikkei Stock 225 closed up by +0.29%.
Interest Rates
March 10-year T-notes (ZNH6) today are up by +2 ticks. The 10-year T-note yield is down by -0.6 bp to 4.239%. T-notes recovered from early losses today and turned higher as inflation expectations eased after the University of Michigan’s US Jan inflation expectations were revised lower. T-notes initially moved lower today after WTI crude prices jumped more than +2% to a 1-week high, a negative factor for inflation expectations.
T-notes are also under pressure after President Trump last Friday expressed reluctance to name Keven Hassett as the next Fed Chair and said he would prefer to keep him as National Economic Council director. The markets saw Hassett as the most dovish candidate and the top contender for the Fed Chair nomination, so nominating someone like Kevin Warsh, a known hawk and the second-most-likely Fed Chair candidate, would be bearish for T-note prices.
European government bond yields are moving higher today. The 10-year German bund yield jumped to a 3-week high of 2.907% and is up +0.6 bp to 2.894%. The 10-year UK gilt yield climbed to a 2.5-week high of 4.517% and is up +2.0 bp to 4.494%.
The Eurozone Jan S&P manufacturing PMI rose +0.6 to 49.4, stronger than expectations of 49.2.
The UK Jan S&P manufacturing PMI rose +1.0 to 51.6, stronger than expectations of no change at 50.6 and the fastest pace of expansion in 17 months.
UK Dec retail sales ex-autos rose +0.3% m/m, stronger than expectations of no change.
Swaps are discounting a 0% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
The strength of the Magnificent Seven technology stocks is a supportive factor for the broader market today. Microsoft (MSFT) is up more than +3%, and Amazon.com (AMZN), Nvidia (NVDA), and Meta Platforms (META) are up more than +1%. In addition, Apple (AAPL) is up +0.34%, Alphabet (GOOGL) is up +0.31%, and Tesla (TSLA) is up +0.13%.
Energy producers and energy service providers are moving higher today, with WTI crude oil up more than +3% at a 1-week high. Halliburton (HAL), Devon Energy (DVN), and Occidental Petroleum (OXY) are up more than +2%. Also, APA Corp (APA), ConocoPhillips (COP), Exxon Mobil (XOM), SLB Ltd (SLB), and Valero Energy (VLO) are up more than +1%.
Mining stocks are climbing today as the price of gold, silver, and platinum rose to new record highs. Barrick Mining (B) is up more than +2%. Also, Newmont Mining (NEM), Hecla Mining (HL), Freeport-McMoRan (FCX), and Coeur Mining (CDE) are up more than +1%.
Booz Allen Hamilton Holding (BAH) is up more than +8% after reporting Q3 adjusted EPS of $1.77, well above the consensus of $1.27, and raising its full-year adjusted EPS forecast to $5.95-$6.15 from a previous estimate of $5.45-$5.65. stronger than the consensus of $5.61.
Fortinet (FTNT) is up more than +6% to lead gainers in the S&P 500 after TD Cowen upgraded the stock to buy from hold with a price target of $100.
CSX Corp (CSX) is up more than +4% after saying it expects 2026 operating margin expansion of 200 to 300 basis points from adjusted fiscal 2025 performance.
Netflix (NFLX) is up more than 2% after co-chief executive Peters told the Financial Times that his company is on track to win the backing of Warner Bros. Discovery shareholders for its offer for Warner Bros. film and television studios.
Clorox (CLX) is up more than +2% today after acquiring GOJO Industries for $2.25 billion in cash.
Intel (INTC) is down more than -15% to lead losers in the S&P 500 and Nasdaq 100 after CEO Lip-Bu Tan gave a lackluster forecast and warned that the company was struggling with manufacturing problems.
Capital One Financial Corp. (COF) is down more than -6% after reporting Q4 adjusted EPS of $3.86, weaker than the consensus of $4.15.
Safehold Inc (SAFE) is down more than -4% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $14.
Entegris Inc (ENTG) is down more than -1% after Seaport Global Securities downgraded the stock to neutral from buy.
Sherwin-Williams Co (SHW) is down more than -1% after Deutsche Bank downgraded the stock to hold from buy.
Earnings Reports(1/23/2026)
Booz Allen Hamilton Holding Co (BAH), First Citizens BancShares Inc/ (FCNCA), SLB Ltd (SLB), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Recover on Strength in Megacap Tech and Consumer Sentiment

The S&P 500 Index ($SPX) (SPY) today is down -0.23%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.56%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.32%. March E-mini S&P futures (ESH26) are down -0.20%, and March E-mini Nasdaq futures (NQH26) are down -0.30%.
Stock indexes are under pressure today, weighed down by weakness in chip makers. Intel is down more than -12% to lead chipmakers lower after CEO Lip-Bu Tan gave a lackluster forecast and warned that the company was struggling with manufacturing problems.
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The US Jan S&P manufacturing PMI rose +0.1 to 51.9, slightly weaker than expectations of 52.0.
Gold, silver, and platinum prices rose to fresh record highs today as a weaker dollar, geopolitical risks, and renewed threats to the Fed’s independence have boosted demand for precious metals as a store of value.
Crude prices jumped more than +3% today to a 1-week high after the Financial Times reported that the US is threatening to curb the supply of dollars for Iraqi oil sales as it pressures Iraq's leading politicians to form a government that excludes Iran-backed militia groups.
On Wednesday, President Trump said he would refrain from imposing tariffs on goods from European nations that oppose his effort to acquire Greenland. NATO Secretary General Rutte said a breakthrough over Greenland was secured without discussing the territory’s sovereignty with President Trump, instead focusing on the broader issue of security in the Arctic region.
The market’s focus this week will be on economic news and any fresh tariff developments, the next Fed Chair, and Greenland. Later today, the final University of Michigan Jan US consumer sentiment index is expected to be unrevised at 54.0.
Q4 earnings season begins in earnest this week and, so far, has been a positive factor for stocks, with 81% of the 40 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The Supreme Court on Tuesday did not issue a ruling on challenges to President Trump’s reciprocal tariffs. The court did not say when it will issue its next opinions, meaning it will likely be at least another month before ruling on the tariffs, as the court begins a four-week recess.
The markets are discounting the odds to 5% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down by -0.38%. China’s Shanghai Composite climbed to a 1-week high and closed up by +0.33%. Japan’s Nikkei Stock 225 closed up by +0.29%.
Interest Rates
March 10-year T-notes (ZNH6) today are down by -2 ticks. The 10-year T-note yield is up by +0.2 bp to 4.247%. T-notes gave up early gains today and turned lower after WTI crude rose more than +2% to a 1-week high, a negative factor for inflation expectations. T-notes initially moved higher today as weakness in stocks boosted safe-haven demand for government debt securities.
T-notes are also under pressure after President Trump last Friday expressed reluctance to name Keven Hassett as the next Fed Chair and said he would prefer to keep him as National Economic Council director. The markets saw Hassett as the most dovish candidate and the top contender for the Fed Chair nomination, so nominating someone like Kevin Warsh, a known hawk and the second-most-likely Fed Chair candidate, would be bearish for T-note prices.
European government bond yields are moving higher today. The 10-year German bund yield jumped to a 3-week high of 2.907% and is up +0.2 bp to 2.890%. The 10-year UK gilt yield climbed to a 2.5-week high of 4.498% and is up +1.0 bp to 4.484%.
The Eurozone Jan S&P manufacturing PMI rose +0.6 to 49.4, stronger than expectations of 49.2.
The UK Jan S&P manufacturing PMI rose +1.0 to 51.6, stronger than expectations of no change at 50.6 and the fastest pace of expansion in 17 months.
UK Dec retail sales ex-autos rose +0.3% m/m, stronger than expectations of no change.
Swaps are discounting a 0% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and AI-infrastructure stocks are sliding today, led by a -13% drop in Intel (INTC) after CEO Lip-Bu Tan gave a lackluster forecast and warned that the company was struggling with manufacturing problems. Also, Western Digital (WDC), Broadcom (AVGO), and Marvel Technologies (MRVL) are down more than -3%. In addition, KLA Corp (KLAC), Lam Research (LRCX), Seagate Technology Holdings (STX), and Applied Materials (AMAT) are down more than -2%.
Energy producers and energy service providers are moving higher today with WTI crude oil up more than +3% at a 1-week high. Halliburton (HAL), SLB Ltd (SLB), Phillips 66 (PSX), and Valero Energy (VLO) are up more than +3%. Also, APA Corp (APA), Marathon Petroleum (MPC), Devon Energy (DVN),and Occidental Petroleum (OXY) are up more than +2%.
Capital One Financial Corp. (COF) is down more than -4% after reporting Q4 adjusted EPS of $3.86, weaker than the consensus of $4.15.
Entegris Inc (ENTG) is down more than -4% after Seaport Global Securities downgraded the stock to neutral from buy.
Safehold Inc (SAFE) is down more than -2% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $14.
Trade Desk (TTD) is down more than -1% after Citizens JMP Securities LLC downgraded the stock to market perform from market outperform.
Sherwin-Williams Co (SHW) is down more than -1% after Deutsche Bank downgraded the stock to hold from buy.
Fortinet (FTNT) is up more than +7% to lead gainers in the S&P 500 after TD Cowen upgraded the stock to buy from hold with a price target of $100.
Booz Allen Hamilton Holding (BAH) is up more than +5% after reporting Q3 adjusted EPS of $1.77, well above the consensus of $1.27, and raising its full-year adjusted EPS forecast to $5.95-$6.15 from a previous estimate of $5.45-$5.65. stronger than the consensus of $5.61.
CSX Corp (CSX) is up more than +3% after saying it expects 2026 operating margin expansion of 200 to 300 basis points from adjusted fiscal 2025 performance.
Nvidia (NVDA) is up more than +1% after Chinese officials were said to have told the country’s largest tech firms they can prepare orders for Nvidia’s H200 AI chips.
Intuitive Surgical (ISRG) is up more than +1% after reporting Q4 revenue of $2.87 billion, better than the consensus of $2.75 billion.
Elf Beauty (ELF) is up more than +1% after Citigroup initiated coverage of the stock with a buy recommendation and a price target of $110.
Darden Restaurants (DRI) is up more than +1% after Mizuho Securities upgraded the stock to outperform from neutral with a price target of $235.
Earnings Reports(1/23/2026)
Booz Allen Hamilton Holding Co (BAH), First Citizens BancShares Inc/ (FCNCA), SLB Ltd (SLB), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.